Open New Trade When Previous is Winning Trade
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Hi experts. I need help with this one. I'm using stochastic for trade signals.
How can i make this, only take BUY signals when the previous BUY trade in profit.
Ignore SELL signals.
Vice versa.And also, if there is an open BUY trade in profit, but if the open BUY trade in loss,
ignore BUY signal and wait for next one.
Vice versa.
Thank you. -
Add a block (check take profit) under your buy block, say your take profit is 100 and you would set your( check-take-profit) at 50 pips, then add a block called (add Volume) then double your volume in the( add Volume block) when the trade reaches 50 pips it will open a another trade with double the volume, I use this same thing in one of my best EA's, it's one of the secrets the pro's won't share, hope this helps...
Jim -
Thank you Jim for sharing your secret.
I'm gonna try it and seek your guidance. -
Hi @Jim5129 , is this correct?
Because it opens new trade when the previous trade in loss. -
Hi @Jim5129 . What i'm trying to do is getting open & close signal from high timeframe like H4/Daily.
But in between that i want to add trades in the same direction either using small timeframe signals
or distance pips from the 1st trade and must be only same direction, BUY/SELL.
Hope experts can help this. Thanks. -
Never connect pink blocks without a 'For each trade' block above them. They will simply not work correctly. You should create a whole new tree blocks for them. And what about those blocks on the 'On init' tab?
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No say Bulls are on a run, because the pips climb over 50 pips, then it adds more volume to the bull climb by opening another trade, you can play with the (add Volume) Block by increasing the vol at higher lots, the higher the lots, means that you have to have more starting balance , only to cover in case you have 5-6 loses at start.
They say you can't put a pink block under the buy or sell, but i do it all the time and works great, I have made some good money with the (Add volume block) only after the trade was already in the profit.
I looked at your set up you sent me and the only thing I see wrong it the percent, 2.5 percent should be put in 2500 I not sure why they programed it like this, but this is the only way I found it to work correct.
Example:
1 % = 1000
2 %= 2000
3 %= 3000
and so on -
Alright. Thanks @Jim5129 @l-andorrà for the tips.
In my test, when there is BUY trade open, but in loss, it still take the buy signal.
Which part is wrong?
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send me your complete set up to look at..
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Yes @Jim5129 , I just use the one i give. Buy @ Sell.
https://fxdreema.com/shared/8m6s74Hnc
Only that i don't know how to make it open new trade only with the same direction and when the previous in BLUE...(in profit).
In the end, the EA should loss 1@2 trades but get a multiple winning trades.
In addition, if the 1st trade in loss and hit SL, it will instantly open trade with opposite direction following the trend with bigger lot but small TP just to cover the loss with extra profit.
That is the logic i'm trying to achieve.
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Fyi, i've tried using trendline as a condition many times before but as you all know it still not perfect because of repaint/recalculate and can still mix with the opposite trade.
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@jim5129 said in Open New Trade When Previous is Winning Trade:
open a another trade with double the volume, I use this same thing in one of my best EA's, it's one of the secrets the pro's won't share, hope this helps...
This is not a "secret", finance theory even has a name for it: tail risk.
It looks good but I'm 100% sure your EA using Add Volume will get absolutely crushed in a backtest.
Be extremely careful if you want to use betting methods.
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Is this a kind ot betting @roar ?
I don't know about this. Just my target is like to make re-entry when the opportunity (another signal) comes,
logically to increase the profit a bit. Only the trade with the same direction, with limited trade (using trade counter). -
@biztet I don't know about your case, its great if its not gambling, just be careful.
Adding volume to 2-5 x your base trade volume (0.01) isn't a problem in most cases, but the more your lot sizes vary, the closer your trading becomes to a roulette table lol
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@roar So thats the game. Now i understand. I know martingale is also used in gambling, right? Then it should be safer just to have multiple trade with same volume right? Then when it reached like 5 trades, then the price go south and the 5th trade in loss, and 4th trade like break even, close all trades.
Final result will be 3wins - 1loss = 2wins.
Hope experts can help with this. Thanks.
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@biztet the way I see it, all betting systems re-organize random distribution of win, loss, win, win etc. into some systematic distribution, like
small win, small win, small win, big loss
or
small loss, small loss, small loss, big winIts still random profitability, betting system just makes the randomness harder to see. The market isnt so dumb that it awards you millions of profit just because you know a number trick. No way. Hard-to-see randomness is great if you want to promote your strategy online, or sell your EA in mql5.com, but its bad if you actually put your own money into the gambling machine.
This is why you should just focus on your core strategy (when to sell and when to buy), use constant lot and never even check win/loss combos.
Well, thats my opinion, I'm sure there are other views too
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Thanks @roar , will consider it. And now back to my objective, to open new trade with same direction only when the previous trade in profit and without using trendline as condition. Either using pips distance or just the new signal.
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This checks if previous buy is in profit. Copy the blocks for the sell case
https://fxdreema.com/shared/lrjGD6Xzb
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@roar I try this for BUY.
https://fxdreema.com/shared/ThVx8OFkd
But the result still the same, new trade open even when the previous in loss.
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Are you sure its not these blocks opening the buys?
